THE PRESIDENT: Well, thank you all very much for that warm
welcome. Welcome to the people's house, as we celebrate a victory for
the American economy. Last week, the United States Congress passed
trade promotion authority and renewed an expanded the Andean Trade
Preference Act.

Trade is an important source of good jobs for our workers and a
source of higher growth for our economy. Trade is an important source
of earnings for our farmers and for our factories. It creates new
opportunities for our entrepreneurs. Trade expands choices for
America's consumers and raises living standards for our families. And
now, after eight years, America is back in the business of promoting
open trade to build our prosperity and to spur economic growth.

I appreciate so very much Vice President Cheney's hard work on this
issue. I appreciate Colin Powell and Ann Veneman, who ably serve in my
Cabinet. I want to particularly thank Don Evans, who's not with us,
and Bob Zoellick, members of my Cabinet who both worked tirelessly to
get the vote in the House and then in the Senate. And I appreciate
Elaine Chao as well. These Cabinet secretaries worked hard for trade.
They understand the promise of trade, and I appreciate their hard work
on behalf of American workers and farmers.

I particularly want to thank the members of Congress who are here
with us, starting with the Chairman of the Senate Finance Committee,
the senator from Montana, Max Baucus. Max did fantastic work to get
this trade bill through the Senate. And was then able to work with
Chairman Thomas. (Laughter and applause.)

Chairman Thomas was heroic in the House. He was steadfast in his
support for trade and I appreciate his leadership on this issue. And I
want to thank both members of the United States Congress, one Democrat,
one Republican, who put their country ahead of their parties to do what
was right for the people of this country. You two deserve a lot of
congratulations. (Applause.)

I want to thank Senator Hatch, who was a conferee and a member of
the Finance Committee. Thanks for coming, Senator.

I want to thank my fellow Texan, Tom DeLay, the best vote-counter
in the history of the United States Congress. (Laughter and
applause.) After all, he was able to triple -- (laughter) -- the
vote margin on final passage.

I appreciate so very much Cal Dooley, and a guy I call "Jeff",
William Jefferson, Congressmen from California and Louisiana. And I
want to thank them for their work as well. They led the Democrats in
the House of Representatives, many of whom are here today, to do what's
right for our country. And again, I appreciate your leadership and I
appreciate your work and I appreciate your help. (Applause.)

I want to thank Embajadora A-Baki from Ecuador. I want to thank
you for coming. I also want to thank Carlos Alzamora from Peru, and
all the other ambassadors who are here. I want to appreciate you --
appreciate your hard work on sending the message of trade to members of
our Congress. I want to thank you for your diligence, and I want to
thank your Presidents for their care and concern about this incredibly
important initiative -- not only for Americans, but for workers all
around the world. Thank you all for coming. (Applause.)

With trade promotion authority, the trade agreements I negotiate
will have an up-or-down vote in Congress, giving other countries the
confidence to negotiate with us. Five Presidents before me had this
advantage, but since the authority elapsed in 1994, other nations and
regions have pursued new trade agreements while America's trade policy
was stuck in park.

With each passing day, America has lost trading opportunities, and
the jobs and earnings that go with them. Starting now, America is back
at the bargaining table in full force. (Applause.)

I will use trade promotion authority aggressively to create more
good jobs for American workers, more exports for American farmers, and
higher living standards for American families. Free trade has a proven
track record for spurring growth and advancing opportunity for our
working families.

Exports accounted for roughly one-quarter of all U.S. economic
growth in the 1990s. Jobs in exporting plants pay wages that are up to
18 percent higher than jobs in non-exporting plants. And our two major
trade agreements, NAFTA and the Uruguay Round, have created more
choices and lower prices for consumers, while raising standards of
living for the typical American family of four by $2,000 a year.

America will build on this record of success. A completely free
global market for agricultural products, for example, would result in
gains of as much as $13 billion a year for American farmers and
consumers. Lowering global trade barriers on all products and services
by even one-third could boost the U.S. economy by $177 billion a year,
and raise living standards for the average family by $2,500 annually.

In other words, trade is good for the American people. And I'm
going to use the trade promotion authority to bring these benefits to
the American people.

Free trade is also a proven strategy for building global prosperity
and adding to the momentum of political freedom. Trade is an engine of
economic growth. It uses the power of markets to meet the needs of the
poor. In our lifetime, trade has helped lift millions of people, and
whole nations, and entire regions, out of poverty and put them on the
path to prosperity.

History shows that as nations become more prosperous, their
citizens will demand, and can afford, a cleaner environment. And
greater freedom for commerce across the borders eventually leads to
greater freedom for citizens within the borders.

The members of the diplomatic corps with us today understand the
importance of free trade to their nations' success. They understand
that trade is an enemy of poverty, and a friend of liberty. I want to
thank the ambassadors for their role in getting this bill passed,
especially the Andean ambassadors who are such strong advocates for the
Andean Trade Preference Act. By providing trade preference for
products from four Andean democracies, we will build prosperity, reduce
poverty, strengthen democracy, and fight illegal drugs with expanding
economic opportunity.

Trade promotion authority gives the United States an important tool
to break down trade barriers with all countries. We'll move quickly to
build free trade relationships with individual nations, such as Chile
and Singapore and Morocco. We'll explore free trade relationships with
others, such as Australia. The United States will negotiate a Free
Trade Area of the Americas, and pursue regional agreements with the
nations of Central America and the Southern Africa Customs Union.

We'll move forward globally, working with all nations to make the
negotiations begun last year in Doha a success. A little more than a
week ago, the United States put forward a far-reaching proposal to
lower worldwide agricultural trade barriers. These innovative set of
ideas can lead to real progress in this challenging area.

Trade gives all nations the hope of sharing in the great economic,
and social, and political progress of our age. And trade will give
American workers the hope that comes from better and higher-paying
jobs.

America's committed to building a world that trades in freedom and
grows in prosperity and liberty. Today, we have the tools to pursue
that vision, and I look forward to the work ahead.

And now it's my honor and pleasure to sign into law the Trade Act
of 2002. (Applause.)